How long does an appraisal take? The home appraisal timeline

If buying a home with a loan, a home appraisal is almost always required and can take anywhere from days to weeks to complete. A home appraisal is a third-party valuation that confirms the home is worth at least as much as the loan amount.

Below breaks down each step of the timeline, what happens during the home appraisal process, and what factors can speed it up or delay the report.

What is a home appraisal?

A home appraisal is a professional assessment and report on the fair market value of a home, which ensures the purchase price supports the loan amount. A lender can only approve a loan on a home that appraises at or above the agreed-upon purchase price, helping protect both the buyer and lender from overpaying.

The appraisal can also impact the loan-to-value ratio (LTV). Generally, many lenders will view an LTV of 80% favorably. A higher LTV may make your loan seem riskier to a lender, and you may need to make a larger down payment or lower your borrowing amount. An unfavorable LTV can also impact your mortgage rate.

The appraiser will consider the home’s overall condition, any upgrades or improvements made to the property and do market research into similar homes in the area to calculate a final appraised value, which is then compiled into an appraisal report and sent back to your mortgage lender.

Home buyers with an appraisal contingency included in their offer can attempt to negotiate a new price if the home is appraised lower than the asking price. If not, the buyer can walk away from the sale without a loss.

Home appraisal vs. home inspection

A home appraisal and a home inspection serve different purposes during the home buying process.

During the sale of a home, the buyer will usually order a home inspection. The licensed home inspector will examine the house for issues like structural problems, cosmetic defects, interior plumbing problems, the condition of the electrical system, and more. When the inspection is complete, the buyer receives an in-depth report on the home’s condition. A real estate appraisal is ordered by the lender and is focused on the features, basic condition, and overall market value of the home.

How long does a home appraisal take?

Generally a home appraisal can take a few days or weeks to complete, depending on the home being appraised and the area it’s located in. Common reasons for appraisal delays can include the complexity of a property and the appraiser’s schedule.

This process is similar to getting a refinance appraisal, although homeowners who are refinancing their property are allowed to attend the appraisal, and generally home buyers are not.

What’s the home appraisal timeline?

To give you an idea of how long an appraisal might take, the following is a typical timeline for the home appraisal process:

1. Ordering an appraisal: An appraisal is typically scheduled 48 hours after the offer is accepted.
2. On-site home appraisal: This depends on the property and appraiser, but the appraisal itself can take anywhere from 30 minutes to a few hours.
3. Buyer receives appraisal report: You can expect the full appraisal report roughly 6 – 20 days from the beginning of the appraisal process.

When is an appraisal ordered in the loan process?

Once your offer is accepted your mortgage lender orders the appraisal. The home appraiser is a third party (not you or the lender), and they usually work through an appraisal management company (AMC). Once the appraisal has been ordered, they’ll typically contact you within 48 hours to schedule a visit to the home. Though this is a typical timeline, the process can vary.

Who pays for a home appraisal?

The buyer almost always pays for the home appraisal, and the payment is due shortly after the mortgage application is received. The report will be provided once the appraisal is paid for in full. According to 2026 data by Angi, a traditional home appraisal costs between $350 and $600 on average, but the final amount will depend on factors like the home’s size, features, and local market conditions.

What does an appraiser look for?

On average, the on-site appraisal visit can take as little as 30 minutes or up to a few hours. Keep in mind this amount of time may differ with a drive-by appraisal.

When a real estate appraiser examines a property, there are several factors they consider, including:

• Exterior integrity: An appraiser will observe the quality of the home’s structure, construction, roof and foundation, and look for any flaws or damages. They may also note the home’s location and neighborhood when determining its value.
• Internal condition: Appraisers will examine the interior quality of the home, such as the square footage, number of rooms, layout, and structural integrity. Plus, appraisers will verify that the home has basic necessities such as a furnace (although they won’t test the furnace – that is part of a home inspection).
• Comparable sales (comps): An important part of your appraisal report involves the appraiser researching similar properties in the area, commonly referred to as comparable homes (comps), and using that as a guide for the current value.

When does the buyer get the appraisal report?

Depending on certain factors, home buyers can expect to receive their appraisal report within a matter of days to a few weeks from the beginning of the appraisal process.

After the real estate appraiser has collected the necessary information about the home, that information is then used to put together an appraisal report, which serves as a complete property analysis and tells the mortgage lender the final approximation of the home’s value.

The time it takes an appraisal report to be finished can depend on factors like the following:

• The size or complexity of the home being appraised
• The appraiser’s own workload or schedule
• When the mortgage lender ordered the appraisal

In addition to the home’s condition, the appraisal report will also provide a detailed market analysis.

What happens after the appraisal?

Once you and your lender have seen the appraisal report, what happens next depends on the report’s findings.

If the home had a low appraisal, meaning the property’s value was deemed less than the sales price, the sale could hit some roadblocks. You can try and talk the seller into lowering their asking price, but if they refuse, you might have to cover the difference with your own money or else back out of the offer. Unless you have an appraisal contingency in place, walking away could cost you your earnest money deposit.

If the appraisal comes in at an amount that meets the lender’s requirements, you can likely proceed with the closing process.

The bottom line

Appraisals are an important part of the home buying process and can even help you renegotiate if the appraisal is different than the asking price. The process can take up to a few weeks to complete, depending on timing, scheduling, and the complexity of the property. Once the appraisal is done and the results meet your lender’s requirements, you’ll be one step closer to closing on your dream home.

If you’re ready to buy a home, you can reach out to Rocket Mortgage and apply for a loan today.